MultiVAC Testnet 3.0 ‘Oracle’ Opens Beta Test. Better Performance & New Functions!
Today, we officially open the beta test for MultiVAC testnet 3.0 ‘Oracle’. The newly-launched testnet has made tremendous improvements in the underlying infrastructure and transmission efficiency. New functions like asset transfer, new address format, offline signing are also supported. MultiVAC also starts the beta test for the mining client (beta test version) and invite supporters to try their hands from Jan 8 to 14. Miners participating in the beta test can enjoy triple rewards (rewards mined x3) for the testing period. The beta test has a limited places (40 testers). If you’re interested to join, please act soon.
Mining client guide and download address: https://github.com/multivactech/testnet
We have received great attention and support from miners who actively participated in the construction of MultiVAC mining ecosystem since the launch of testnet 2.0. Up to now, the total deposit exceeds 498 million MTV, rewards for miners are over 58 million MTV, and the current ROI exceeds 12%.
The successful launch of ‘Oracle’ is the result of the continuous efforts of our core dev team and also another great milestone since the launch of testnet 2.0, symbolizing that it is closer to the ideal decentralized world. Therefore, miners regain the power of control and everyone can be the miner.
Get to Know ‘Oracle’
Compared with the testnet 2.0, MultiVAC testnet 3.0 has achieved a more stable, safer underlying infrastructure and a more efficient transmission mechanism. View more details about the updates.
- Safer Address Format & Transfer Function Supported
After the launch of our testnet 3.0, we will upgrade the address format for every user. The new MTV address format shortens from 64-bit to 32-bit and will all start with ‘MTV XXX’. The new address format is more succinct and safer.
We also support transfer function in the testnet 3.0. Users can operate the sending and receiving of tokens by themselves.
- Offline/ Online Signing Function
In MultiVAC testnet 3.0, we also support offline and online signing functions to guarantee the safety of your assets and transactions. Users can generate the account’s keystore, public key, private key, password, and mnemonic seed in the offline environment. Private key can be recovered by employing the mnemonic seed and keystore in the offline environment too.
Meanwhile, the safe offline-signing function can help you avoid the risk of exposing your private key in the browser. Users can request an unsigned transaction in the browser and get returned with a character string. Users can sign this character string in the offline environment with their private keys to generate a new string. The new string then can be used in the browser to complete the transaction. You will never risk leaking your private key info in this process.
- VRF Dynamic Resharding Realized
The main challenge of Sharding technology is to ensure the safety of one Shard equals to that of the whole network.
Assuming that user M’s transactions are always processed on Shard A and nodes serving for Shard A are always a fixed group of miners, Shard A must be fragile because miners can easily collude to each other, which threatens the security of the entire Sharding system.
Using VRF, MultiVAC constructed an effective selection mechanism for miners. This mechanism is fully supported in testnet 3.0. Through the VRF model, MultiVAC gets to shift the miners in every Shard dynamically to ensure the security of a single Shard equals to that of the entire system.
In the VRF model, which Shard will a miner join is completely dependent on the VRF. Miners won’t know or anticipate the result. Also, in our testnet 3.0, all miners in a specific Shard will be shifted every several minutes to avoid the risk of collusion.
To summarize, the VRF adopted by MultiVAC is not only an elegant mathematical mechanism but a perfect solution for random selection. It can also save transmission costs and improve efficiency.
- Optimization in Network Storage and Transmission & Bandwidth Costs Greatly Reduce
MultiVAC designs an interactive controllable database based on the Merkle Tree. The control right and the storage right are separated. Miners only need to store less than 1G sized data to join the consensus and mining smoothly. Therefore, the bandwidth cost can be dramatically reduced. This innovative storage structure can support the search and acquisition of smaller data slots, which make the data’s storage and update more flexible and efficient.
The cutting edge storage and transmission mechanism mean that one single Shard is only ‘responsible’ for its own computation, storage, and transmission. Its performance won’t be impacted by the whole network’s volume of transactions. There won’t exist a complete ledger within the network.
One miner only needs to save its own Shard’s Main Merkle Tree Root to complete the verification of transactions (the huge volume of data is stored in the storage nodes). Meanwhile, miners can monitor the entire network’s Merkle Path. In this way, miners only need a small fraction of data to add/ delete/ modify/ and search the large volume of data.
- The Beta Test of Mining Client Also Starts
MultiVAC also starts the beta test of the mining client (beta test version) and invite testers to join from Jan. 8 -14 ( 40 limited places for the beta testers. If you’re interested, please apply soon). Miners participating in the beta test can enjoy triple rewards (rewards mined x3) for the testing period.
The new version of the mining client has been greatly upgraded based on the original version, mainly in the interaction between client and MultiVAC system, and optimization of network performance. Daily-use PCs can download the client and participate in mining, which greatly lowers the threshold for mining.
To ensure that client runs, miners should make sure the configuration of your computer should be at least a dual-core processor, 2GB RAM, 8GB disk space and 10Mbps/s network bandwidth. Furthermore, this version only supports Mac OS and Linux at this point. Testers should be familiar with the command line operation.